Saradha chitfund: ED registers two fresh laundering cases

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Last Updated: Sun, May 26, 2013 11:13 hrs

In fresh trouble for chitfund scam-hit Saradha group of companies, the Enforcement Directorate has initiated two fresh money laundering probes against the group and is set to to attach properties worth crores of the firm.

The agency has registered two new cases under the Prevention of Money Laundering Act (PMLA) to probe the operations of the company and its alleged chit-fund and ponzi schemes being run in Kolkata and Bhubaneshwar.

The first such case was registered by the agency in Guwahati sometime back taking cognisance of the Assam Police FIR filed in this regard after numerous depositors alleged financial irregularities by the group.

The ED had also approached a local Kolkata court recently to obtain official documents about the companies operations and it expects to get them soon from West Bengal Police.

The ED, according to sources, has registered the fresh cases as it plans to attach and seal the properties of the group and other as "criminal proceeds of crime" to ensure that the accused are not able to take the benefit of these assets in any form.

The statements of those arrested will now be recorded after preliminary probe is conducted.

The properties set to be attached are worth crores and are being identified, sources said.

The group and its investments are already being probed by a host of agencies like the SEBI, Income Tax department and investigation units under the Ministry of Corporate Affairs.

The ED will also go through the business and personal transactions of Saradha group Chairman Sudipto Sen and his close associates and the business dealings of the groups' various investment schemes.